AWE result reflected delays and cost escalation at BassGas.

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AWE reported a statutory loss of $66.5m for the full year as a result of earlier writedowns at BassGas. On an underlying basis, AWE generated a net profit of $14.8m, translating to earnings per share of 2.8 cents. Although the company paid a 5 cent special dividend in January this year, no ongoing dividend was declared. Operating cashflow was 11% lower at $124m, reflecting lower production of 4.7m barrels of oil equivalent (mmboe) because of production stoppages at BassGas.

Hi Team, I'd like to hear your thoughts on the best time to cut your losses, I bought ORG and AWE back in 2010 and 2012 and am down on the both by approx 50% thanks to the oil price. I'm considering whether it's better to wait out a recovery which...

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